Yeah, Colif has covered it off. With a storage and CPU cooler upgrade, neither are "significant hardware changes" and your digital entitlement remains.
The added security of linking to your MS account isn't a bad idea, but totally unnecessary in this instance. If you use your MS account to log in, you'll have it anyway (or it's a one-click link). If you use a local account, you wont. You can clean install & skip the key and it'll activate.